Sanofi

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Sanofi announced on June 30, 2022, that “the U.S. Food and Drug Administration (FDA) has placed Phase 3 studies of tolebrutinib in multiple sclerosis (MS) and myasthenia gravis on partial clinical hold.  As a result, new enrollment in the United States (U.S.) is paused, and participants in the U.S. who have been in the trial for fewer than 60 days shall suspend study drug.” The Company added, “[t]he FDA action was based on a limited number of cases of drug-induced liver injury that have been identified with tolebrutinib exposure in Phase 3 studies.” Based on this news, shares of Sanofi fell by more than 5% on the same day.

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Abbott Laboratories

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Abbott was the subject of testimony by Dr. Robert Califf, the head of the FDA, before the Energy and Commerce Subcommittee of the U.S. House of Representatives related to the ongoing baby formula shortage throughout the United States. According to the New York Times, Dr. Califf “detailed ‘egregiously unsanitary’ conditions” at the Company’s Michigan plant, which contributed to the shortage. Dr. Califf testified that “’the inspection results were shocking’” and that “’we had no confidence in integrity of the quality program at the facility.’”

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Nuvation Bio Inc.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Nuvation issued a press release on June 27, 2022, “announc[ing] the Food and Drug Administration (FDA) has placed a partial clinical hold on the Company’s Phase 1 dose escalation study of NUV-422 in solid tumors, including high grade glioma, HR+/HER2- advanced breast cancer and metastatic castration resistant prostate cancer.” According to the Company, “Following the emergence of uveitis, a form of inflammation in the eye, in certain patients receiving NUV-422, the Company proactively paused enrollment of new patients in order to further assess these adverse events with investigators and uveitis experts, and also reached out to the FDA for guidance around an appropriate path forward. While the partial hold is in place, no new patients will be enrolled in the NUV-422 program, although current study participants may continue to be treated in the Phase 1 study.” Based on this news, shares of Nuvation fell by more than 13% on the same day.

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The GEO Group, Inc.

The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of The GEO Group, Inc. (“GEO” or “the Company”) (NYSE: GEO) for violations of the securities laws.

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Generac Holdings Inc.

The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Generac Holdings Inc. (“Generac” or “the Company”) (NYSE: GNRC)  for violations of the securities laws.

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MultiPlan Corporation

The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of MultiPlan Corporation (“MultiPlan” or “the Company”) (NYSE: MPLN)  for violations of the securities laws.

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World Wrestling Entertainment, Inc.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. WWE is the subject of a June 15, 2022, article in the Wall Street Journal titled: “WWE Board Probes Secret $3 Million Hush Pact by CEO Vince McMahon, Sources Say.” According to the article, the Company’s board “is investigating a secret $3 million settlement that longtime chief executive Vince McMahon agreed to pay to a departing employee with whom he allegedly had an affair, according to documents and people familiar with the board inquiry.” The article continues, “the board’s investigation, which began in April, has unearthed other, older nondisclosure agreements involving claims by former female WWE employees of misconduct by Mr. McMahon and one of his top executives, John Laurinaitis, the head of talent relations at WWE, the people said.” On June 17, 2022, the Company issued a press release stating, “a Special Committee of the Board is conducting an investigation into alleged misconduct by its Chairman and CEO Vincent McMahon and John Laurinaitis, head of talent relations, and that, effective immediately, McMahon has voluntarily stepped back from his responsibilities as CEO and Chairman of the Board until the conclusion of the investigation.”

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TrueBlue, Inc.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. TrueBlue issued a press release during trading hours on June 15, 2022, “announc[ing] … that Patrick Beharelle has resigned as Chief Executive Officer and as a member of the Board of Directors of TrueBlue, effective June 14, 2022.” The Company stated that “Mr. Beharelle’s resignation follows an investigation, led by outside counsel, into allegations regarding his conduct. Based on the investigation’s findings, the Board of Directors determined that he had engaged in behaviors that violated TrueBlue’s policies and Code of Conduct. Mr. Beharelle’s conduct in question was not related to financial controls, financial statements, or business performance.” Based on this news, shares of TrueBlue fell by more than 5%.

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The Charles Schwab Corporation

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. The SEC announced on June 13, 2022, that it had “charged three Charles Schwab investment adviser subsidiaries” who “agreed to pay $187 million to harmed clients to settle the charges.” According to the SEC, the Company misleadingly touted its robo-adviser as using “disciplined portfolio construction methodology” that sought “optimal returns,” when the Company’s “own data showed that under most market conditions, the cash in the portfolios would cause clients to make less money even while taking on the same amount of risk.” Based on this news, shares of Charles Schwab fell by about 3% on June 13, 2022.

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Outset Medical, Inc.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Outset provided guidance for the second quarter of 2022 as part of a June 13, 2022 press release. The Company announced that it had “implemented a shipment hold on the distribution of its Tablo Hemodialysis System for home use pending the Food and Drug Administration’s (“FDA”) review and clearance of a 510(k) the Company submitted for changes made since the device’s original March 2020 clearance.” Based on this news, shares of Outset fell by more than 34% on June 14, 2022.

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